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Nov 28, 2012
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did the comprehensive tax reform. clinton, welfare reform and balanced the budget for multiple years in the late 1990's. this is the perfect time to solve single biggest problem confronting our country and we are anxious to sit down and get the job done. \[inaudible question] >> dick durbin says as talks continue on of this booklet democrats must be open to painful topics, including medicare and medicaid. he was at the center for american progress for about 45 minutes. >> good morning, everyone. thank you for being here. i am the president of the center for american progress. we are thrilled to have senator durbin here today to talk about his views on the fiscal cliff. as we engage in this debate, i wanted to lay out a few principles that are critical as washington becomes obsessed with this set of issues. the elections have consequences. at c.a.p., we have argued that the issues that are really framing the fiscal debate and fiscal cliff were ones that were litigated in the election context. the president did not have
did the comprehensive tax reform. clinton, welfare reform and balanced the budget for multiple years in the late 1990's. this is the perfect time to solve single biggest problem confronting our country and we are anxious to sit down and get the job done. \[inaudible question] >> dick durbin says as talks continue on of this booklet democrats must be open to painful topics, including medicare and medicaid. he was at the center for american progress for about 45 minutes. >> good...
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Nov 27, 2012
11/12
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neil: it would be a tax, a climate tax, really? >> no,. neil: what do you doll th call g crazed. >> we have promised to give to global climate fund. neil: if you are paying that money, that is more money than you pay now, so, -- -- what it is a dessert. >> part of our shared responsibility? we have a responsibility. neil: you don't call that a tax? >> it's not a tax. >> what it is. >> a shared responsibility. neil: if you force me to give you money, i don't have to call it a tax, but it sure as hell will feel like a tax. >> you are giving me the money, i'm not forcing you to give me the money, it is in our shared interest to give me that. neil: you tell that to the wealthy countries, you think they will go along, and say she is absolutely right. >> if they were smart, they would. >> what do you say 10 years from now, are still a young woman i will belong retired, but, 10 years, and it has not done squat. you say oh, my god, it is all wrong. >> it won't, because investment will be worth a -- it will payoff. without these countries, adapting
neil: it would be a tax, a climate tax, really? >> no,. neil: what do you doll th call g crazed. >> we have promised to give to global climate fund. neil: if you are paying that money, that is more money than you pay now, so, -- -- what it is a dessert. >> part of our shared responsibility? we have a responsibility. neil: you don't call that a tax? >> it's not a tax. >> what it is. >> a shared responsibility. neil: if you force me to give you money, i don't...
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Nov 28, 2012
11/12
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when you tax something usually get less of it, like cigarette taxes to curb smoking or carbon tax to curb carbon emissions. financial advisers say individual investors are considering doing their investing elsewhere. other countries because of the higher taxes. now, the investing mobile bullies that wealthy folks should have to pay a minimum tax. look. there is alrady an alternative minimum tax set up with just that idea, to catch of the scofflaws who don't pay their fair share. unfortunately the brain surgeons on capitol hill have never in next the tax for inflation. knight captures 4 million americans, many of which it would be a strain to consider wealthy. even if you had of -- led all the bush tax cut expired the renue would only fund the government for eight half day aid now have days. we nd a better solution than that. the comments are based on the idea that there are no unintended consequences of government policy. people embrace changes, and the world keeps on spending. i believe that results would be catastrophic. capital flight to my jobs left unfilled, weaken the economy,
when you tax something usually get less of it, like cigarette taxes to curb smoking or carbon tax to curb carbon emissions. financial advisers say individual investors are considering doing their investing elsewhere. other countries because of the higher taxes. now, the investing mobile bullies that wealthy folks should have to pay a minimum tax. look. there is alrady an alternative minimum tax set up with just that idea, to catch of the scofflaws who don't pay their fair share. unfortunately...
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Nov 22, 2012
11/12
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it is not conservatism bound to 35% tax rate. that is not one of the immutable principles of american conservatism. we want taxes to be as low as they can possibly be while running a government that is not bankrupt and in structural deficit for as far as the eye can see. you will have to see republican leaders step up here and meet the president's somewhere in the middle on this to get the country's fiscal path on a path to solvency so we can start to have economic growth again in the country. >> do you want to comment a little bit about what you expect from the next six weeks? not even six weeks? however many weeks it is now between -- between now and the start of this booklet. working in the white house limits what you can say, but how you see his plan at between now and january? >> steve is exactly right, all the you are seeing a very concerted members of the house dig in on a no revenues. it is good to see many republicans saying yes. i cannot get into a lot of details -- i think it is unrealistic to expect next week we will
it is not conservatism bound to 35% tax rate. that is not one of the immutable principles of american conservatism. we want taxes to be as low as they can possibly be while running a government that is not bankrupt and in structural deficit for as far as the eye can see. you will have to see republican leaders step up here and meet the president's somewhere in the middle on this to get the country's fiscal path on a path to solvency so we can start to have economic growth again in the country....
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Nov 27, 2012
11/12
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and the president can push the tax the tax rates on the rich but the republicans are creeding more tax grounds on potentially adding to that with limited deductions on the wealthy, or, say, they focus only on deductions there is a scenario where they limit the deductions and write offs and the rich pay more in taxes than they would if they just raised the rates behalf, to where they were during the time of bill clinton? >> and that is why everything is just talk. just talk. >>neil: you think they will have an incredible deal by the end of the year? >>guest: i have told you before, i'm slightly optimistic. you cannot be more than that when it comes to negotiations. >>neil: since the ice cream bet you hedging because i think you know you got lucky and now you hedge a lot. you sound like a tv anchor. >>guest: i don't want do lose a bet but cut while i'm ahead and i am not irrationale. i don't think either the president or congress wants to become unpopular and congress now is at 18 percent again, do they want to go to system digits? i don't think so. >>neil: grover norquist was here and h
and the president can push the tax the tax rates on the rich but the republicans are creeding more tax grounds on potentially adding to that with limited deductions on the wealthy, or, say, they focus only on deductions there is a scenario where they limit the deductions and write offs and the rich pay more in taxes than they would if they just raised the rates behalf, to where they were during the time of bill clinton? >> and that is why everything is just talk. just talk. >>neil:...
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Nov 28, 2012
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tax reform. people who are following us on twitter, just tweeted, we'll take your questions. we want to thank the bank of america for supporting these series. the forum is about issues that matter most in washington. last week, how the obama campaign won and today we will talk about very important issue for conservatives and republicans, the path forward for them and their party. we appreciate bank of america's partnership including at both of the conventions. and we are going to bring you into the conversation. you got cards. we would love to take your questions and also be getting questions as they call it on "morning joe"," the twitter machine. we would love to bring out grover norquist, president of americans for tax reform. good morning, grover. [applause] >> you don't have your bag. he is attached to his bag. >> they told me it was too streamlined up here for the bag. >> thank you very much for coming out. can republicans raise taxes and not break your pledge? >> difficult. >> it's not know
tax reform. people who are following us on twitter, just tweeted, we'll take your questions. we want to thank the bank of america for supporting these series. the forum is about issues that matter most in washington. last week, how the obama campaign won and today we will talk about very important issue for conservatives and republicans, the path forward for them and their party. we appreciate bank of america's partnership including at both of the conventions. and we are going to bring you into...
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Nov 27, 2012
11/12
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that wasn't his tax policy. you can have financial problems from printing too much money and inflation under carter, not just high tax rates but inflation. if buffet goes back and looks at how the kennedy years did after the marginal tax rate cuts and the reagan years, he'd understand that economic growth -- you know, he says he made a lot of money selling bonds. the question is how many money the people who invested in those bonds made, we need economic growth and not higher taxes. if the government taking a dollar aaway, that dollar is not available to be invested. the return on that dollar is zero. for buffet to not understand if you take money out of the economy it's gone is a little bit odd. he's willing to write it. if he wants to write a check, he should write a check and shut up about what everyone else should do. >> the richest guy in america things he should make more taxes. >> then do so. >> fwri in policies that make all people do that. grover as always combative fun and good to talk with you. a man
that wasn't his tax policy. you can have financial problems from printing too much money and inflation under carter, not just high tax rates but inflation. if buffet goes back and looks at how the kennedy years did after the marginal tax rate cuts and the reagan years, he'd understand that economic growth -- you know, he says he made a lot of money selling bonds. the question is how many money the people who invested in those bonds made, we need economic growth and not higher taxes. if the...
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Nov 27, 2012
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. >> i myself am opposeed to tax increases. >> i don't think if you raise taxes 100% on the wealthy. you're not going to fix the revenue problems. >> all our democratic colleagues want to talk about is more taxes, more taxes more revenue. >> we never cut spending. >> you want additional revenue by capping deductions. >> i will not raise tax rates to do it. i will cap deductions. >> cenk: aah, so they don't want to raise the rates. what they want to do is take away things like your home mortgage deduction. you know who that hits, the middle class. of course! of course! they're going to take most of it from the middle class. you think they're going to give up tax cuts to the rich? this republican party? it's mainly a trick. nonetheless, grover norquist said not enough, nin nin nin is that too much. >> they need to focus on reforming government not raise taxes to pay for bigger government each year. it's not working. it's not easy. but throwing up your hands and saying maybe i'll throw up taxes instead of governing is not the way to go. >> cenk: you know raising taxes is also governing.
. >> i myself am opposeed to tax increases. >> i don't think if you raise taxes 100% on the wealthy. you're not going to fix the revenue problems. >> all our democratic colleagues want to talk about is more taxes, more taxes more revenue. >> we never cut spending. >> you want additional revenue by capping deductions. >> i will not raise tax rates to do it. i will cap deductions. >> cenk: aah, so they don't want to raise the rates. what they want to do...
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Nov 24, 2012
11/12
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taxes, not your sales taxes or excise taxes. no tax increases. in 2010, august 8, starting in grand junction, colorado, he started to say and repeated verbatim again and again, my plan is that if you earn less than $250,000, i will not raise your income taxes next year. two changes in his promise that did not get talked about on cbs, nbc, cnn, or any of the networks. he just announced that he can do an energy tax tomorrow and not have broken his word. an energy tax, wacking the middle class. he could raise income taxes on people a year from now. which is why what he wanted to do is kick out the bush rates for those making less $250,000 a year. this is where you talk about the dual mandate. we are talking about marginal tax rates, higher income people and successful small businesses. that raises $400 billion -- there are other taxes, in addition to the rate increases he wants to include. over a decade. he has $800 billion he plans to raise from higher income people. the size of the debt -- if he gets that, in his budget, assuming
taxes, not your sales taxes or excise taxes. no tax increases. in 2010, august 8, starting in grand junction, colorado, he started to say and repeated verbatim again and again, my plan is that if you earn less than $250,000, i will not raise your income taxes next year. two changes in his promise that did not get talked about on cbs, nbc, cnn, or any of the networks. he just announced that he can do an energy tax tomorrow and not have broken his word. an energy tax, wacking the middle class. he...
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Nov 29, 2012
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we can raise tax revenue by simplifying the tax code, not increasing tax rates. we can address wasteful government spending that jeopardize an hour commitments in the national defense and protecting our most honorable. we can jump-start our economy by assuring americans that congress and the president can work together to get the job done and deal courageously with the pressing problems of today. when it comes to the fiscal cliff, the president and congress will either fail together or we will succeed together. there is nothing in between. i am confident that we can pass the test and do what is good and right for the american people. >> the president has been talking a lot about taxes lately, and as acpa who practiced for years and a member of ways and means committee, there is no one who likes to talk about tax more than i do. but let's be honest -- talking about taxes is not going to solve the problem that america faces. we have to turn to the spending side of the ledger. furthermore, his tax proposal will kill about 700,000 jobs and do harm to the economy, aga
we can raise tax revenue by simplifying the tax code, not increasing tax rates. we can address wasteful government spending that jeopardize an hour commitments in the national defense and protecting our most honorable. we can jump-start our economy by assuring americans that congress and the president can work together to get the job done and deal courageously with the pressing problems of today. when it comes to the fiscal cliff, the president and congress will either fail together or we will...
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increase tax top tax and he was bent over the way he was wrong. nixon defended a he was wrong or can't either but so is right but tom nobody was paying ninety percent for real because there's because what happens is the democrats when they had three million dollars a quick take on audio but everybody did their businesses so that they could pay their employees of these away democrats raise the rates so that they can sell deductions that's how the game is played that is well that's how they always corazon republicans want to lower the rates that so you can't sell deductions if the rates are low the reality though is that during that period of time when the top tax rate topping them tax rate was ninety one seventy four percent from from one hundred thirty five one hundred thirty three nine hundred thirty three ok no until until the eisenhower here in the regular mr ok during that period of time you had you had c.e.o.'s who were not living in mansions they were you know and only one private well you had some people who were having rich you didn't have
increase tax top tax and he was bent over the way he was wrong. nixon defended a he was wrong or can't either but so is right but tom nobody was paying ninety percent for real because there's because what happens is the democrats when they had three million dollars a quick take on audio but everybody did their businesses so that they could pay their employees of these away democrats raise the rates so that they can sell deductions that's how the game is played that is well that's how they...
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Nov 29, 2012
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they like taxes? >> it's a pledge not to increase taxes. people say why don't you toughen it. you don't want to change it because it is a simple guardrail. it doesn't solve the world's problems, it says no net tax increase. >> in your mind when someone signs it, how long are they committed to it? >> in writing when the person signs it as long as you are a congressman or senator. >> you are signing this for life? >> unless you intend to be a congressman for all of your life. >> a career decision. >> if someone tells you they are pro-life or pro-choice, is this 18 months or a year? how long are you pro-choice? you are telling someone who you are. i'm the kind of guy who is pro- choice or pro-life. two people have brought that up. latourette who decided to leave congress he said yeah i made that promise a long time ago and i went into district and talked about banks and mortgage. mortgage, that was 20 years ago. you are still sending me letters. people make a commitment. it's an easy simple commitment an
they like taxes? >> it's a pledge not to increase taxes. people say why don't you toughen it. you don't want to change it because it is a simple guardrail. it doesn't solve the world's problems, it says no net tax increase. >> in your mind when someone signs it, how long are they committed to it? >> in writing when the person signs it as long as you are a congressman or senator. >> you are signing this for life? >> unless you intend to be a congressman for all of...
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Nov 27, 2012
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once all the taxes go up, everybody is in a position to vote for a tax cut. so the nature of this may be such that republicans feel compelled to wait until after taxes have risen so that they can actually vote for a tax cut, which will be some sort of compromise. i don't think we should dismiss grover norquist and the power of this pledge and the threat to run primary campaigns against people so quickly. >> what you're talking about there, though, it sounds like getting out of the pledge on a technicality. if they wait for the rates to expire on their oath, then they don't have to vote for a rate increase. that really honoring the spirit of this commitment? >> i don't think it is. if that's what it takes to get people to reality, we've been waiting for many years for republican legislators to kind of recognize reality, and people thought, okay, the 2008 election. that will really sort of wake them up and think we have to compromise on issues of taxation. no it didn't. people thought maybe 2012 will do the trick. we see them edge from this. i think their minds
once all the taxes go up, everybody is in a position to vote for a tax cut. so the nature of this may be such that republicans feel compelled to wait until after taxes have risen so that they can actually vote for a tax cut, which will be some sort of compromise. i don't think we should dismiss grover norquist and the power of this pledge and the threat to run primary campaigns against people so quickly. >> what you're talking about there, though, it sounds like getting out of the pledge...
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Nov 21, 2012
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sales taxes are up. most americans are paying more in taxes than ever before. at the same time wealthy americans are paying less than ever before. this is an appropriate move. >> we'll be talking more about social security taxes and also goldman sachs. you'll enjoy that, robert. but neera, you know the hill better than anyone. will they get this done by the end of the year? or are there sticking points we're not seeing? >> this is the most optimistic i have ever been. and you know, that's not saying a lot sometimes because this whole debate around the budget has been like losing the football for awhile. but i actually think that you're seeing republicans moving in a way that they obviously didn't do, and you're seeing an understanding -- what i think is really important is there are a lot of people like bill crystal coming forward, governors are trying to make a play here. they represent whole states as well. so i think you're seeing a kind of break in this impass or fever that we haven't seen in the past. as you said, there's reasonable common ground to make i
sales taxes are up. most americans are paying more in taxes than ever before. at the same time wealthy americans are paying less than ever before. this is an appropriate move. >> we'll be talking more about social security taxes and also goldman sachs. you'll enjoy that, robert. but neera, you know the hill better than anyone. will they get this done by the end of the year? or are there sticking points we're not seeing? >> this is the most optimistic i have ever been. and you know,...
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Nov 28, 2012
11/12
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man are they very create on the tax front. now tax of a higr gas tax to fund construction projects. to slash all deducts and exemptions not just for the rich even adjust mortgage formula for example, likely veros in those taxpayers below $250,00 $250,000 threshold, more like a hundred grand crowd now. a health care surtax on the rich to cover a program whose costs are already spiralling. but not much cost on underlying abuses, you see a pattern here. i do not care whether you are on the left or right, the way we're going about this is not fair. no creative solutions to cut spending, a lot of ideas to raise revenues. taking a shine to spending our money, but never saving us money. we'll debate this. with wealth manager. if you want to look serious you need to put big spending cuts on the table. and we have, i just call him my toke an liberal friend. rick yo unger. you are not buying this. >> i see some, but the problem, you have to be careful not to create a new disaster by trying to solve another one, in 1980, 83% of americans had a defined pension benefit plan at work today that is
man are they very create on the tax front. now tax of a higr gas tax to fund construction projects. to slash all deducts and exemptions not just for the rich even adjust mortgage formula for example, likely veros in those taxpayers below $250,00 $250,000 threshold, more like a hundred grand crowd now. a health care surtax on the rich to cover a program whose costs are already spiralling. but not much cost on underlying abuses, you see a pattern here. i do not care whether you are on the left or...
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Nov 27, 2012
11/12
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by letting it expire and than any tax change to reduce taxes will be a tax cut, we will be glad to sign it. all of the super rich people who are now going to face the state tax on anything over $1 billion will be screening of their shoulders, the thing it. and rear not point to have $200 billion less in spending if after january 1 we sign a new tax bill. the fact that obama is administration is to make it sound like he is averting a catastrophe over the post 2013 -- it is an insult to people who know what is going on. host: if you think that -- do you think the president is not holding from one democratic beliefs? calving i really do not know. i just found out that ed rendell is supposedly a little type of democrat. he is one -- on one of these teams trying to figure out entitlements. this is a simple equation. we have about $800 billion more than necessary in spending. we have $800 billion more in spending that goes into the pockets of those who run unnecessary tests, insurance companies and pharmaceutical companies. and if we relocate the like most of the rational world by civil natio
by letting it expire and than any tax change to reduce taxes will be a tax cut, we will be glad to sign it. all of the super rich people who are now going to face the state tax on anything over $1 billion will be screening of their shoulders, the thing it. and rear not point to have $200 billion less in spending if after january 1 we sign a new tax bill. the fact that obama is administration is to make it sound like he is averting a catastrophe over the post 2013 -- it is an insult to people...
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minimum tax. the white house report estimates that consumer spending would fall by $200 million. now that's more than three times what consumers spent just over this entire holiday weekend. there could be a drag on a range of industries from cars and housing to restaurants and supermarkets, if congress can't reach a deal. and look, pocketbook issues are not the only problem here. carl levin, the democratic senator and chair of the armed services committee said automatic cuts to government spending could impact public safety. >> i think you should be worried if you have a defense job and we all ought to be worried whether we are dependent upon other aspects of the federal budget. whether we're worried about the regulation of our food safety, whether we're worried about our borders being secure, whether we're worried about fbi being supported, it's all affected by sequestration. >> joining me now, cnbc washington reporter eamon javers. you heard the numbers we just ran down. what is the short-term t
minimum tax. the white house report estimates that consumer spending would fall by $200 million. now that's more than three times what consumers spent just over this entire holiday weekend. there could be a drag on a range of industries from cars and housing to restaurants and supermarkets, if congress can't reach a deal. and look, pocketbook issues are not the only problem here. carl levin, the democratic senator and chair of the armed services committee said automatic cuts to government...
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Nov 27, 2012
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he created 10% tax rate and took lower income people off the tax roles. because of it, the rich are making more and paying more in taxes. before reagan took office. the bottom 50 paid 7%. the top 50 paid 90. now the top 50 pay 98%. the bottom 50 only pay two. >> bob: what do the top 5% pay? >> andrea: over 80%. 90%? >> bob: are you not embarrassed defend this? >> dana: embarrassed that the policy is so bad and you defend it and you act it will be a great savior and you know it's not. >> bob: i'm getting rap for people making half a billion snore if you do, what president obama is suggesting, raise taxes on the 250 and above you come up with 82 to $83 billion. >> bob: take in account the spending cuts that come in to that. >> dana: what spending cuts? show us. i would love to see any spending cuts. i'll believe it when i see it. >> brian: i think we have to give credit to producers of this world and not vilify them. we have to do what will allow them to grow the economy. to hire more people. >> eric: online for this -- >> brian: leave it there. >> eric: co
he created 10% tax rate and took lower income people off the tax roles. because of it, the rich are making more and paying more in taxes. before reagan took office. the bottom 50 paid 7%. the top 50 paid 90. now the top 50 pay 98%. the bottom 50 only pay two. >> bob: what do the top 5% pay? >> andrea: over 80%. 90%? >> bob: are you not embarrassed defend this? >> dana: embarrassed that the policy is so bad and you defend it and you act it will be a great savior and you...
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Nov 29, 2012
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on the middle class, tax the rich more. there were even calls in that room for higher minimum wages. clearly, no one wants to cut out the safety net that working people are promised for their lives of diligence, using their brains and brawn to build our country. >> mr. prince, republicans claim that the president's plan is bad for small business. why do you think they are wrong? >> let me tell you. the president's plans so far have helped my business. from 2008 to 2011, things were very flat. sales were flat or even down. as the stimulus started to kick in, we started seeing month to month, every month sense late 2010, our sales go up. it is consumers having more can have dense, having more money. obama care was huge. i provide health insurance for all my employees. the aca is underwriting small businesses doing that helped me absorb a huge increase because i have a couple of folks who work for me who are going through some illness problems. >> lee saunders, your members of afscme, will be financially hurt if we go over the
on the middle class, tax the rich more. there were even calls in that room for higher minimum wages. clearly, no one wants to cut out the safety net that working people are promised for their lives of diligence, using their brains and brawn to build our country. >> mr. prince, republicans claim that the president's plan is bad for small business. why do you think they are wrong? >> let me tell you. the president's plans so far have helped my business. from 2008 to 2011, things were...
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Nov 27, 2012
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he sees you know, create a carbon tax, you could get higher taxings on a more efficient system and people would be okay to do that and he sees here that if you use tax reform to raise revenues, you can't use it to lower rates and he is right. that's why the white house is saying in the clip you plays from carney earl yes, they are not very open to letting tax reform to be the only way we get new revenue. >> grover wants smaller government and he adopted the star of the beast strategy of. thank you for joining me. coming up, the republican party looks for ways to avoid having michele bachmann or anyone like her ever be a front-runner again for that party's presidential nomination. karen finney and david corn will join me on that. later, pat robertson thinks athiests are miserable and want christians to be unhappy. a very happy atheist will bring him wrong. i always wait until the last minute. can i still ship a gift in time for christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for chris
he sees you know, create a carbon tax, you could get higher taxings on a more efficient system and people would be okay to do that and he sees here that if you use tax reform to raise revenues, you can't use it to lower rates and he is right. that's why the white house is saying in the clip you plays from carney earl yes, they are not very open to letting tax reform to be the only way we get new revenue. >> grover wants smaller government and he adopted the star of the beast strategy of....
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Nov 29, 2012
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but what i want to tell you is that ronald reagan agreed to tax reform that led to lower tax rates but also higher tax revenues from rich folks because it got rid of loopholes and deductions. >> stephen: you lower tax rates, revenues get higher. i already said that earlier. >> it's a complicated thing. >> stephen: it's not complicated lower/higher. >> you can get revenue gains from making it cleaner and fairer and more transparent and that's what republicans --. >> stephen: wait, simplifying the tax code, closing loopholes, is that not raising taxes? are those two things different? >> you have hit on a very tricky and important issue, stephen, which is that, yes, there's a way to raise average tax rates on high earners without raising the marginal tax rate on high earners. >> stephen: wow, i'm interested in what you just said and yet it's incrediblebly boring at the same time. (laughter) >> fair enough. i'm trying to say that you can industrial a 35% top rate and say wait a second, rich people are not able to take the same kind of deductions that take take under today's tax code. >> st
but what i want to tell you is that ronald reagan agreed to tax reform that led to lower tax rates but also higher tax revenues from rich folks because it got rid of loopholes and deductions. >> stephen: you lower tax rates, revenues get higher. i already said that earlier. >> it's a complicated thing. >> stephen: it's not complicated lower/higher. >> you can get revenue gains from making it cleaner and fairer and more transparent and that's what republicans --. >>...
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Nov 27, 2012
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next year's taxes. not this year's taxes. you don't see that immediate impact. >> eliot: i'm joining joined by bernie sanders. welcome. >> thank you. >> eliot: do you think the hold has been broken. >> it does appear that is the case. after the election after poll after poll after poll some republicans are catching on to the idea that you can't get out of the deficit crisis just by cutting, cutting cutting and we all will have to raise taxes. >> eliot: of all the permutations that you've heard of the ideas being floated around, is there any deal that is likely to be agreed upon that you can vote for at this point ifin time. >> to be very honest, eliot i get a little bit nervous. i get nervous that instead of bringing back the old clinton era tax rates for the wealthyiest people 39.6, there may an way to wiggle out of that, i get nervous when i hear the president and others continue to talk about quote/unquote entitlement reform, which i'm afraid is just another word for cuts in medicare and medicaid, an
next year's taxes. not this year's taxes. you don't see that immediate impact. >> eliot: i'm joining joined by bernie sanders. welcome. >> thank you. >> eliot: do you think the hold has been broken. >> it does appear that is the case. after the election after poll after poll after poll some republicans are catching on to the idea that you can't get out of the deficit crisis just by cutting, cutting cutting and we all will have to raise taxes. >> eliot: of all the...
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Nov 28, 2012
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is the prime minister guilty of tax of points for tax evasion? >> $900 million into specific majors of tax avoidance. all these schemes grew up under years of labour government. they never did a general tax avoidance. they presided over a system where people in the city were paying less taxes than their cleaners and the government has sorted out. >> not to be remembered as the prime minister introduced regulation of the press, an essential part of a free democracy. would you agree with me that regulation derives -- you are pregnant or not pregnant. you either have state regulation or you don't. there is no alternative third way. >> i would agree with my hon. friend. is it a free press? absolutely vital for free democracy? we should recognize all the press has done and should continue to do to uncover wrongdoing, stand up to the powerful. whatever changes we make we want a robust and free press in our country. >> research by the charity save the children, reveals shockingly that in our country when seven children does not have a warm coat this win
is the prime minister guilty of tax of points for tax evasion? >> $900 million into specific majors of tax avoidance. all these schemes grew up under years of labour government. they never did a general tax avoidance. they presided over a system where people in the city were paying less taxes than their cleaners and the government has sorted out. >> not to be remembered as the prime minister introduced regulation of the press, an essential part of a free democracy. would you agree...
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Nov 28, 2012
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is it a robin hood tax? the idea that tax and lower rate is because it is more free- flowing than people. you tax people for ordinary and come. if you get people to not want to do something or do something differently, move somewhere else because of a tax rate, it's a lot harder to make that decision. capital flows easier them people. that is why the debate is still going on. whether or not it will be beneficial, it remains to be seen. host: fort myers, fla., republican mike, you are on with doom and it to -- dominic chu from bloomberg. comments are a little less than one hour. [speaking in french] that is it for my french. thank you very much for joining us. it is an honor to haveou. let me explain how this will work. we have been here since o'clock this morning. we have had a packed day. this might be the highlight. here is what we will do -- i have a few questions i would like to ask the prime minister. we appreciate you doing this format. i think this is more fun. >> i appreciate you having us here. >> i
is it a robin hood tax? the idea that tax and lower rate is because it is more free- flowing than people. you tax people for ordinary and come. if you get people to not want to do something or do something differently, move somewhere else because of a tax rate, it's a lot harder to make that decision. capital flows easier them people. that is why the debate is still going on. whether or not it will be beneficial, it remains to be seen. host: fort myers, fla., republican mike, you are on with...
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Nov 28, 2012
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they're for tax changes that would save their companies over $100 billion a year. to take a hard look at the views these ceos are espousing let's bring in bill cohen bloomberg view columnist and author of "money and power" how goldman sachs came to rule the world. and lynn, let me start with you is this campaign to fix the debt just a trojan horse behind which the ceos are trying to implement? things that would be really good for them? >> i think it is. i think they were really hoping some of them that mitt romney might win the election and get some of these things done without them having to go public but now, as we just saw lloyd blankfein and others are going on a public campaign to convince americans we can't afford social safety net programs and they need a windfall and tax breaks. the spirit of giving is a little hard to find among some of them. >> eliot: bill, you have been critical of your former brethren on wall street. you've been rational. you have to admit they're not the best messengers for this right now. >> they're terrible messengers. i don't really
they're for tax changes that would save their companies over $100 billion a year. to take a hard look at the views these ceos are espousing let's bring in bill cohen bloomberg view columnist and author of "money and power" how goldman sachs came to rule the world. and lynn, let me start with you is this campaign to fix the debt just a trojan horse behind which the ceos are trying to implement? things that would be really good for them? >> i think it is. i think they were really...
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Nov 29, 2012
11/12
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then personal income taxes. then taxes on consumption, and taxes on property. most of these find that taxes on consumption -- the closest thing we have on the federal level is the payroll tax -- would have no direct tax on consumption like every other country in the oecd. that is a consumption tax. many economists and they oecd find that those taxes have no relationship with economic growth. it is the taxes it -- it is not the taxes on consumption that hard economic growth. host: this is part of a continuing series on "washington journal" focusing on a fiscal cliff. our conversation has broadened. to bring it back to the payroll tax cut and remind you it was enacted in december of 2010, designed to temporarily boost the economy and reduce the tax to% from 6.2% to 4.2% and increased take-home pay about an average of $1,000 to $1,800 per worker. it expires at the end of the year, rates will revert back to 6.2%. if you make $35,000 or so, that will be an extra $700 in taxes. the $2,000, an extra thousand dollars. 75,000, $1,500. finally, $110,000, the upper limit
then personal income taxes. then taxes on consumption, and taxes on property. most of these find that taxes on consumption -- the closest thing we have on the federal level is the payroll tax -- would have no direct tax on consumption like every other country in the oecd. that is a consumption tax. many economists and they oecd find that those taxes have no relationship with economic growth. it is the taxes it -- it is not the taxes on consumption that hard economic growth. host: this is part...
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Nov 21, 2012
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no new taxes pledge. grover norquist's pledge. but now with the fiscal cliff looming, lawmakers who were once staunchly against raising revenues seem to be changing their tone a little bit. and grover norquist's influence may be fading fast. >> fewer and fewer people are signing this pledge. >> the pledge is dead. >> i'm not saying it's dead but i am saying the majority of members of congress see the fiscal cliff we want to sit down and we want to get something worked out. >> if you appropriate some of the money you achieved by eliminating deductions and loopholes to the national debt, even though that may technically violate the pledge, sign me up. that's a reasonable accommodation for a republican to make. >> jennifer: for the record, that was senators john mccain and lindsey graham so the question is this grover norquist's last stand? here with an answer is donnie fowler. donnie of course, democratic strategist and great political operative. welcome back into "the war room." is it grover norquist's las
no new taxes pledge. grover norquist's pledge. but now with the fiscal cliff looming, lawmakers who were once staunchly against raising revenues seem to be changing their tone a little bit. and grover norquist's influence may be fading fast. >> fewer and fewer people are signing this pledge. >> the pledge is dead. >> i'm not saying it's dead but i am saying the majority of members of congress see the fiscal cliff we want to sit down and we want to get something worked out....
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Nov 26, 2012
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when you throw in the higher state taxes in cities and states promising millionaire tax hikes, not just affecting if millionaires. that brings us to 60%. that is 15 points higher. this isn't specious math. this is logical math. courtesy of the republican strategy hellbent on ignoring that for fear of getting it on rates. the republicans risk being snookered by the democrats who know the opponent's number. blinded in the grand old quest to keep rates moving up, they don't see the other side just taken them to cleaners. we are going to debate this tonight. you can watch other choices. but you can still watch him and watch me. i am a nice appetizer then. that's how i look at it. appetizer. if you did online shopping i'd be a good buy. you know a lot about the cyber bye. >> demand it! >> no. >> you were shopping. >> i was not. not doing anything. >> you were. >> was not. >> that is a laptop.
when you throw in the higher state taxes in cities and states promising millionaire tax hikes, not just affecting if millionaires. that brings us to 60%. that is 15 points higher. this isn't specious math. this is logical math. courtesy of the republican strategy hellbent on ignoring that for fear of getting it on rates. the republicans risk being snookered by the democrats who know the opponent's number. blinded in the grand old quest to keep rates moving up, they don't see the other side just...
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Nov 28, 2012
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we know an increase in the marginal tax rates, that's a tax increase. but what about capping deductions? from your standpoint of the pledge, would that be considered a violation of the pledge to cap deductions, as some republican lawmakers are now suggesting? >> this is not a trick question. the pledge says no raising rates, no broadening the base unless rates come down dollar for dollar. the pledge is only two sentences but they are very clear. one of the reasons why eliminating deductions and credits, obama wants a trillion plus dollars worth of tax increase that way, is that if you do that, you've just got a tax reform for decades to come, because how do you reduce marginal tax rates so we can become competitive in the world on the corporate and the individual side, if you have already given away to the appropriators and spenders all the deductions and credits. >> one final question, grover. it seems some liberals out there want to make this personal. more and more about you, about your role in encouraging these republicans by and large to support th
we know an increase in the marginal tax rates, that's a tax increase. but what about capping deductions? from your standpoint of the pledge, would that be considered a violation of the pledge to cap deductions, as some republican lawmakers are now suggesting? >> this is not a trick question. the pledge says no raising rates, no broadening the base unless rates come down dollar for dollar. the pledge is only two sentences but they are very clear. one of the reasons why eliminating...
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Nov 26, 2012
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they will accept higher tax revenue. the democrats still want higher tax rates. i'm saying, everybody, that the republicans are the ones doing the shifting here. the democrats are holding right where they always have been. sandra: republicans are definitely shifting, now talking about revenue, not about raising tax rates, very different than that. but also put their foot down when it comes to entitlements, medicare and social security. they are also going to address spending in ways that democrats are not going to be happy about. so everybody is going to have to sort of cave here, it would seem. stuart: there has to be compromise on the other side as well as republicans on tax. maybe the democrats have to compromise on entitlement reform at some point. they haven't yet. sandra: grover norquist has already come out and said nobody is caving here, if they do, it is just a trap the republicans are falling into. and this is going to be horrible for republicans, especially in the next election. liz: he also pointed out that george h.w. bush won gulf war one and then r
they will accept higher tax revenue. the democrats still want higher tax rates. i'm saying, everybody, that the republicans are the ones doing the shifting here. the democrats are holding right where they always have been. sandra: republicans are definitely shifting, now talking about revenue, not about raising tax rates, very different than that. but also put their foot down when it comes to entitlements, medicare and social security. they are also going to address spending in ways that...
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Nov 28, 2012
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tax. if we want to look for more revenue, we would start their of the things that are not taxed at all and try to bring more revenue that way first. host: why do we have tax rates? where do they come from? what is the history? guest: why do we have tax rates? host: the varying tax rates, 10%, 6%, up to 39.6%, or whatever. guest: in 2001, the rate started at 15% and went up to about 40%. we have a long history of having -- having a progressive income tax system. there is a bipartisan interest in the wealthier paying a higher share of their income. that is a system we have had since income taxes were put in place. in order to get the type of progress city that we have in place today, it can only be achieved with a progressive rate structure. in the 1990's, more radical tax reform ideas were passed of moving from an income tax to a consumption tax. and there was a popular movement to promote a flat tax. it would also have been progress of because we would not have taxed the first $20,000 wort
tax. if we want to look for more revenue, we would start their of the things that are not taxed at all and try to bring more revenue that way first. host: why do we have tax rates? where do they come from? what is the history? guest: why do we have tax rates? host: the varying tax rates, 10%, 6%, up to 39.6%, or whatever. guest: in 2001, the rate started at 15% and went up to about 40%. we have a long history of having -- having a progressive income tax system. there is a bipartisan interest in...